Quad City Times – Iowa troopers cheer Branstad

DES MOINES – Former Gov. Terry Branstad drew cheers Wednesday when he told a state police group Wednesday their pension money will be safe, public safety funding will be stable and new leadership will be put in place at the Iowa Law Enforcement Academy if he is elected.

Branstad also told about 300 officers at the Iowa State Police Convention that if he is elected to a fifth term, he would order an investigation of the Iowa Public Employees Retirement System’s involvement with an investment firm that was shut down by federal regulators last year.

Initially, IPERS officials said $339 million of the 319,000-member system’s assets were put at risk by the investment scam, but they later revised the potential loss at $116 million, with about $35 million of that already recovered. Two investment managers of Westridge Capital were arrested for allegedly

operating a brazen $1.3 billion investment scam that misappropriated $553 million from commodity pool participants – which included IPERS – and used some of the money to buy real estate, horses and collectibles.

“I think that needs to be fully investigated. I have not received an adequate explanation as to why that happened and how we can avoid that kind of thing ever happening again. I’m very disturbed about that because that’s been a real hit on that retirement system,” he said.

Branstad said he would evaluate all departments and agencies if he’s elected and “choose the very best people” to direct them.

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